Fox says it is ‘weighing its options’ over Sky bid

Fox says it is 'weighing its options' over Sky bid

21st Century Fox has said it remains set on buying UK broadcaster Sky and expects the deal to close this summer.

Fox has been trying to win approval to buy the 61% of Sky it does not already own from UK regulators since 2016.

The firm is also being challenged for Sky by US telecoms giant Comcast, which has put in its own offer.

The statements came as the company, which is led by the Murdoch family, said quarterly revenue fell 2% to $7.4bn (£5.5bn).

The firm said the decline was due to a loss of advertising related to American football, including the fact that it did not air the Super Bowl this year.

Profit was $858m in the quarter, rising about 7% from the same period in 2017.

Fox said it is “considering its options” when it comes to the Sky bid. It has previously proposed to sell the broadcaster to Disney or take other steps to ensure the independence of Sky News.

Disney and Fox last year announced a deal to sell the bulk of Fox’s assets, including its stake in Sky, to Disney for $66bn, including debt.

Source: BBC News

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